Bank Stock Roundup: Q4 Earnings Commences, BofA, JPMorgan & Citi Top Estimates
Further, remarkable investment banking performance, aided by strong underwriting business and steady consumer banking, was on the upside.In addition, mortgage banking revenues rebounded on lower rates mainly owing to rise in mortgage origination volume. Though equity market revenues disappointed on a more challenging environment in derivatives, fixed income revenues were on an upswing. Sales and trading revenues (excluding DVA) grew 13%, driven by 25% rise in fixed income trading, while equity trading income witnessed a fall of 4% on year-over-year basis. In addition, shares of Capital One Financial have appreciated 15.4%.What’s Next?In the coming week, the focus will solely be on earnings releases. Some banks are scheduled to report fourth-quarter earnings in the next five trading days.